Biotech Alert: Searches spiking for these stocks today

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include:

• Galecto (GLTO), 6,483% surge in interest
• TransCode Therapeutitcs (RNAZ), 480% surge in interest
• Impact BioMedical (IBO), 467% surge in interest
• Alnylam Pharmaceuticals (ALNY), 302% surge in interest
• PMGC Holdings (ELAB), 216% surge in interest
• TC Biopharm (TCBP), 208% surge in interest
• Adaptive Biotechnologies (ADPT), 191% surge in interest
• Ardelyx (ARDX), 126% surge in interest

Pipeline and key clinical candidates for these companies:

Galecto is a clinical-stage biopharmaceutical company committed to realizing the promise of novel treatments for cancer and liver diseases. The company’s pipeline consists of first-in-class small molecule drug candidates that target cancer and fibrosis signaling pathways, including a preclinical dual inhibitor of ENL-YEATS and FLT3 for multiple genetic subsets of AML; an orally active galectin-3 inhibitor in combination with a checkpoint inhibitor for various oncology indications; and an orally active galectin-3 inhibitor for the treatment of liver cirrhosis.

TransCode is a clinical-stage oncology company focused on treating metastatic disease. The company is committed to defeating cancer through the intelligent design and effective delivery of RNA therapeutics based on its proprietary TTX nanoparticle platform. The company’s lead therapeutic candidate, TTX-MC138, is focused on treating metastatic tumors which overexpress microRNA-10b, a unique, well-documented biomarker of metastasis. In addition, TransCode has a portfolio of other first-in-class RNA therapeutic candidates designed to overcome the challenges of RNA delivery and thus unlock therapeutic access to a variety of novel genetic targets that could be relevant to treating a variety of cancers.

Impact BioMedical discovers, confirms, and patents unique science and technologies which can be developed into new offerings in biopharmaceuticals and consumer healthcare and wellness in collaboration with external partners through research, licensing, co-development, joint ventures, and other relationships.

Alnylam Pharmaceuticals has led the translation of RNA interference into a whole new class of innovative medicines with the potential to transform the lives of people afflicted with rare and prevalent diseases with unmet need. Based on Nobel Prize-winning science, RNAi therapeutics represent a powerful, clinically validated approach yielding transformative medicines. Since its founding in 2002, Alnylam has led the RNAi Revolution and continues to deliver on a bold vision to turn scientific possibility into reality. Alnylam’s commercial RNAi therapeutic products are ONPATTRO, AMVUTTRA, GIVLAARI, OXLUMO, and Leqvio, which is being developed and commercialized by Alnylam’s partner, Novartis. Alnylam has a deep pipeline of investigational medicines, including multiple product candidates that are in late-stage development.

PMGC Holdings is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. Currently, its portfolio consists of three wholly owned subsidiaries: Northstrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC.

TC Biopharm is a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing gamma-delta T-cell therapies for cancer treatment with human efficacy data in acute myeloid leukemia. Gamma-delta T cells are naturally occurring immune cells that embody properties of both the innate and adaptive immune systems and can intrinsically differentiate between healthy and diseased tissue.

Adaptive Biotechnologies is a commercial-stage biotechnology company focused on harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease.

Ardelyx was founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs. Ardelyx has two commercial products approved in the United States, IBSRELA and XPHOZAH. Ardelyx has agreements for the development and commercialization of tenapanor outside of the U.S. Kyowa Kirin commercializes PHOZEVEL for hyperphosphatemia in Japan. A New Drug Application for tenapanor for hyperphosphatemia has been submitted in China with Fosun Pharma. Knight Therapeutics commercializes IBSRELA in Canada.

Recent news on these stocks:

March 24

TransCode Therapeutics announced that it has agreed to sell an aggregate of 10.25M shares of its common stock and warrants to purchase up to 10.25M shares of common stock priced at-the-market under Nasdaq rules, at a purchase price of 98c per share and associated warrant. The warrants will have an exercise price of 86c per share and will be immediately exercisable upon issuance for a period of five years following the date of issuance. All of the shares of common stock and associated warrants are being offered by the company. The offering is expected to close on March 25, subject to satisfaction of customary closing conditions. The gross proceeds to the company from the offering are expected to be approximately $10M, before deducting the placement agent’s fees and other offering expenses payable by the company. The company intends to use the net proceeds from the offering for product development activities, including one or more clinical trials with TTX-MC138, its lead therapeutic candidate, including related IND-enabling studies, and for working capital and other general corporate purposes. ThinkEquity is acting as the exclusive placement agent for the offering.

March 21

PMGC Holdings has repurchased shares from certain existing shareholders who contacted the company directly. The company will consider repurchasing additional shares from other investors who wish to sell, subject to market conditions and other considerations.

Goldman Sachs analyst Salveen Richter upgraded Adaptive Biotechnologies to Buy from Neutral with a $9 price target. Since October 2024, Adaptive has put explicit guardrails around limiting cash burn from its Immune Medicine business and made progress on initiatives to accelerate and drive sustained penetration in minimal residual disease, notes the analyst, who has become “increasingly positive” on the MRD space and believes Adaptive is well positioned to benefit from its attractive economics in the company’s niche in hematologic cancers.

March 20

Alnylam announced the FDA approval of the supplemental New Drug Application for its RNAi therapeutic, Amvuttra, for the treatment of the cardiomyopathy of wild-type or hereditary transthyretin-mediated amyloidosis, or ATTR-CM, in adults to reduce cardiovascular mortality, cardiovascular hospitalizations and urgent heart failure visits. The approval expands the indication for Amvutra, which now becomes the first and only therapeutic approved by the FDA for the treatment of ATTR-CM and the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults. ATTR-CM is a rapidly progressive, and ultimately fatal disease estimated to affect approximately 150,000 people in the U.S. and over 300,000 people worldwide. There is no cure for ATTR-CM.

March 18

TC BioPharm announced initiatives to outsource several functions, moving to a more decentralized model, resulting in reduction in its workforce. The initiatives focus on moving to a CDMO model for production to accommodate larger production demand for future clinical trials, allowing TCB to review alternatives for new manufacturing facilities incorporating newly developed automated and other cell therapy production technologies. Additionally, the company is reviewing alternative approaches for testing and clinical needs, which align with a decentralized drug development model. This approach is expected to result in a workforce reduction of approximately 20 employees, focused largely within the company’s production and quality divisions and represents approximately half of the company’s total headcount. Separations will be substantially complete by the end of Q2 and are expected to reduce the core operational burn rate by approximately 55% compared to 2024. As a result of these steps, when compared to 2024, the company estimates partial year 2025 savings to be approximately $2.1M and annualized savings to be roughly $4.2M.

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About “Biotech Alert”

The Fly will report on a selection of biotech stocks seeing a surge in interest from retail and financial professional investors, based on data from InvestingChannel.

This Fly exclusive recap reveals the biotech stocks that are seeing a spike in searches among the 20-plus million retail and financial professional investors through InvestingChannel’s online financial news media ecosystem.

This increased attention from the investors may be in response to, or advance of, outsized moves for stocks in the biotech sector, which tend to be volatile and prone to sharp swings in share price around binary events such as clinical study results and FDA approvals.